Q1: (a) UsingReadings One and Twoand the analytical models of Hofstede and Gray (Lectures Two and Four) explain how the PRE-IFRS international differences in theOwnership and Financing of Companiescould lead to differences in the financial reporting practices of global multi-national corporations (MNCs).

To fully illustrate your answer,select two countries from different cultural groupings (e.g. select one country with high individualism scores and one country with high collectivism scores using the Hofstede model) and compare and contrast their key PRE-IFRS development factors, cultural factors (Hofstede) and their PRE-IFRS accounting values (Gray).

1)Reading One: Text Book – Chapter Two and the Relevant Lecture Four PPTs.

Referencing: In text

Doupnik and Perera (2015, p. 480) OR (Doupnik & Perera, 2015, p.480)

2)Reading Two (pp. 4-12 Only):S. J. GRAY – ‘Towards a Theory of Cultural Influence on the Development of Accounting Systems Internationally’